The Week in Agrifoodtech: Middle East in the money as Foodics gets $170m, Red Sea Farms nets $19m
UAE restaurant platform Foodics is expanding overseas, while Saudi Arabia-based Red Sea Farms will take its indoor farming tech global.
UAE restaurant platform Foodics is expanding overseas, while Saudi Arabia-based Red Sea Farms will take its indoor farming tech global.
It’s raising the insects on organic byproducts such as food waste, before converting them into proteins and oils for use in animal feed.
The agribusiness marketplace for Ghanaian smallholders has raised $6.5 million in equity and $6.4 million in debt.
For Earth Day 2022, we explore some of Africa’s ecosystem enablers working to support and finance climate-smart agriculture startups.
More funding went to vertical farming in the US while delivery heavyweight Just Eat Takeaway is having second thoughts about buying Grubhub.
It’s digitalizing Asian and African agribusiness with software that helps mid- to large-size operations manage their data and finances.
Kenya’s Tushop is scaling to allow communities to purchase groceries in groups, thereby getting wholesale prices for goods.
Elsewhere, the Gates Foundation and Qatar’s development fund pledged $200 million to help African smallholders with climate change adaptation.
SokoFresh provides a mobile cold storage solution for smallholders in Kenya, based on a ‘pay-as-you-store’ business model.
Beewise aims to save the world’s bee population with robotic beehives; while Arzeda creates enzymes for use in food, personal, and homecare products.
Nigeria’s ThriveAgric and Kenya’s Apollo Agriculture raised close to $100 million between them this week in a watershed moment for African agrifoodtech.
Rhishi Pethe interviewed 12 agriculture experts from around the world for his new charity e-book. Here are key takeaways from each conversation he had.
Over in the US, meanwhile, The Every Company launched the world’s first chickenless egg white.
Venture investors pumped $51.7 billion into agrifoodtech startups in 2021, according to AgFunder’s latest global investment report.
The Nairobi-based startup – formerly known as Sokowatch – enables informal grocery retailers to restock and finance their stores via its mobile app.
The accelerator plans to back 100 entrepreneurs working on financial and climate resilience innovation over the next four years.
Elsewhere, Plantish scored $12 million for plant-based fish – and Mzansi Meat unveiled ‘Africa’s first’ cultivated beef burger.
It’ll now be able to back more high-growth, ‘mid-cap’ agribusinesses aiming to become regional and global players, says chief investment officer Chris Isaac.
The Nairobi-based startup raised $1 million in pre-seed funding last year.
Clean Crop Technologies closed a round for crop protection tools and Protenga nabbed capital for its insect farming operations.